the Spanish abertis A concession was awarded in Puerto Rico to implement the project Rehabilitate, operate and maintain four toll highways over the next 40 years After submitting an offer worth $2.85 billion (2,691 million euros) in the largest highway privatization in Puerto Rico. The new assets include a total of 192 kilometers of roads connecting key points on the island that Abertis will operate through Metropistas, Abertis’ subsidiary in Puerto Rico and majority shareholder.
To finance the operation, as well as the acquisition of SH-288 in Houston (Texas, USA) for $1.532 million (€1.446 million), Abertis, controlled by ACS and Mundys, will carry out an operation in the coming weeks. The capital increase, which shareholders will contribute in the amount of 1,300 million euros.
The capital increase, the result of “a new strategic cooperation agreement between Mundys and ACS to strengthen Abertis’ global leadership in transportation infrastructure concessions,” also focuses on “maintaining an optimal capital structure, in accordance with Abertis’ commitment to maintaining its credit rating.” However, The group will also finance the operation in Puerto Rico through new bank debt and available funds.
With this new award, Abertis will manage the PR-52, PR-66, PR-20 and PR-53, which will be added to those roads it previously managed in Puerto Rico, such as PR-22, PR-5 and the PR-5. Teodoro Moscoso Bridge.
The four highways you will now run They concentrate “more than 60% of the island’s traffic”; Three of them “are very strategic routes connecting to the San Juan metropolitan area” (this is the case of PR-52, PR-66 and PR-20) and the fourth “is located in the southern and eastern parts of the island” (PR-53).
The group reports this These roads achieved an income of $153 million in 2022 It recorded an annual increase of 8% in the first half of 2023, and will be managed from now on through a system. Hassle-free feesThis allows for improved safety, increased capacity, improved road service and reduced emissions of polluting gases by users, by not having to stop paying.
In the case of the PR-52, it includes some types of roads “Managed lanes”, the operation of which ensures the flow of traffic through a dynamic toll system Which adjusts prices based on real-time traffic conditions. The system also uses video technology to identify collisions and includes a system for communicating with drivers through electronic signals.
Abertis CEO, Jose Algaro, stressed that this operation represents an “important strengthening” for the group in one of its “priority markets”, such as the United States. “It is confirmation that our growth strategy is clear,” he added. pointed out.
